In May, the Bank of Russia's Business Climate Index (BCI) rose to 11.1 points from 10.7 in April, nearing its highest levels in the past 12 years. Business activity continues to grow intensively, with businesses reporting higher estimates of current demand for products and output compared to April. However, expectations for these indicators over the next three months have slightly decreased.
For the first time, the Bank of Russia has released BCI data across small and micro enterprises, as well as medium and large businesses. Growth in business activity is evident across all groups.
Companies' price expectations have remained consistent with April's levels and are above values typical for a period of inflation close to the target. Further information can be found in the May issue of the information and analytical commentary "Monitoring of Businesses: Assessments, Expectations and Comments."